Loan Application Management Software is an essential tool in today’s highly competitive lending arena. Managing the loan application process, borrower evaluation, storing supporting documents, securing credit history/score, approvals/rejections, timely communication with the applicant, etc. through a manual process is time-consuming, labor-intensive, less efficient and expensive. Both loan origination and loan servicing are two different disciplines of the Loan Management Life Cycle and have their own unique set of requirements. Moreover, supporting a wide variety of loan industries and lending products including but not limited to student loans, mortgage loans, auto loans, medical financing, SME lending, etc. is another challenge.
Our Loan Application Management solution provides a highly configurable, robust, secure automated workflow platform for Loan Application Initiation, Monitoring, Tracking and Servicing process. From application to decision, our system lets you track, review and manage workflows with tools customized for your organization. Our solution automates full loan application life cycle from application and document submission, borrower evaluation, credit scoring, automated calculation of loan parameters, data storage, payment processing, collection and Final Decision Status (Approve/Decline). Our system can be easily customized based on the type of loan industry and lending product. Our best-in-class encryption enables secure collection of financial data such as scorecards, credit history, credit card payments and personal information.
At each stage, the dependencies are validated, and appropriate actions are taken. Our system provides flexible management of the lender’s credit rules, credit policies and scoring models. Role-based authentication provides the ability to assign read-only, limited or full access based on various roles such as administrator, user, loan servicing manager, reviewer, committee member. Real-time calendar functionality provides easy and fast scheduling functionality to applicants, set deadlines, payment reminders, rescheduling and sending automated emails very efficiently and without any staff assistance.
Data Analytics tool provides charts, graphs, dashboards and reports for gathering, filtering and evaluating the applicant pool, payment history etc. thus identifying year to year trends with strong predictive analysis based on current and historical data thus optimizing marketing efforts.
Our solution is based on SharePoint 2013, SQL Server and .NET Microsoft technologies. These robust technologies make our solution extremely secure, reliable, scalable and highly configurable and customizable. It is compatible with all industry-standard browsers. Hence, it can be accessed using a desktop as well as any mobile device [iPad, iPhone, Android Tables, Android phones, etc.]. The solution is available On Cloud as well as On-Premises. It can be integrated with your backend system through web services as well as custom integrations.
Improved control over the process
Lower cost of ownership
Better solution adoption
Fully featured 100% cost effective web-based workflow automation of the processes
Highly configurable, flexible and scalable centralized solution for entire Loan Application life cycle
Substantial decrease in the amount of time required for Application Decision
Minimizes financial risk with proven scoring techniques
Customizable dashboards, charts and reports based on current and historical data for statistical and predictive analysis in real-time and auto delivered at pre-defined schedules
Real-time calendar functionality for submission, processing, status tracking, scheduling, reminders, deadlines
Best-in-class encryption methods
Seamless Integration with legacy systems as well as Microsoft Office
Windows 2012 R2 Servers
SQL Server 2013
SQL Server Reporting
SOAP/REST Web Services